I'm inclined to believe this as well. Furthermore, once the IASB ED on Leases comes into effect around 2014, all leases will be treated as "finance leases" though the distinction will not remain. A lease is a lease, capitalized in your statements.

If I was a Malaysian taxpayer (soon soon...), I'd gladly chip in as long as the students are airlifted out safe and sound. I'm sure many forummers here wouldn't mind doing the same, as it beats 'chipping in money' for someone's Cayenne or lavish Geneva shopping sprees!